Which of the following is FALSE?
a. To reduce cannibalization among products, reposition a product so that it does not directly compete with the other
b. After acquiring a substitute product, raise prices on both the products
c. After acquiring a complementary product, raise prices on both the products
d. All of the above
c
You might also like to view...
A physician's office expenses increase 10 percent, so she decides to raise the price of office visits. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice revenues?
a. Office visits and total revenue stay the same if demand is elastic. b. Office visits and total revenue rise if demand is inelastic. c. Office visits and total revenue fall if demand is inelastic. d. Office visits will fall and total revenue will rise if demand is inelastic. e. Office visits will rise and total revenue will fall if demand is elastic.
An increase in supply will cause a(n)
a. increase in demand b. decrease in demand c. increase in quantity demanded d. decrease in equilibrium quantity demanded e. increase in equilibrium price
The increase in total output that results from a unit increase in the employment of a variable input is equal to the input's
a. total product. b. marginal product. c. average product. d. marginal cost.
?
In Exhibit 3-7, if price happened to currently be $25 in this market, a _______ would result, causing a _______ in price.
A. shortage; increase B. shortage; decrease C. surplus; increase D. surplus; decrease